I really think it is worth your while to try to negotiate a better deal. I work for a university, and while I was very happy with my package, some of my colleagues pushed pretty hard for more money or better benefits. Brits are not good at this, but it's not unusual to counter offer here. Considering half your salary will go on accommodation, a large chunk in school fees and then there’s getting cars too. For a bank it’s probably a good deal but will it take care of all your needs and considerations. If I were you, I’d ask for more.